Pinterest to Secure More Funding, Company Valued at $2 Billion

Pinterest, a website that allows people to "pin" photos to their page to create virtual pinboards, is reportedly in talks to secure a fresh round of funding. According to rumors, the company is presently valued at around US$2 to US$2.5 billion.

Just half a month ago, the company raised US$100 million and was value at US$1.5 billion. Since then, Pinterest has updated its site and also rolled out apps for the iPhone and iPad, as well as Android. The site has also been growing at a steady rate, traffic is also nearly four times what it was a year ago, coming in at 28 million unique visitors in December.

When quizzed about this, a Pinterest spokesperson merely said: "We don’t have anything to share at this time."